Summary
A new study has found that the total number of digital wallet users will exceed 5.2 billion globally in 2026, up from 3.4 billion in 2022, representing strong growth of over 53%. The research predicts that ‘super apps’ will drive digital wallet use in developing countries that are currently considered cash-heavy.
Super apps are multipurpose apps able to integrate digital payments alongside other services, including wealth management and e-commerce.
The study identified three countries in Asia Pacific primed for rapid growth over the next four years: the Philippines, Thailand, and Vietnam. It predicts that the adoption of digital wallets will near 75% of the population in each of these countries by 2026. It cited rising access to online and mobile commerce services as the driving force behind the use of digital wallets, notably through super apps.
‘These rapidly growing markets represent a significant opportunity for wallet vendors,’ says research co-author Damla Sat. ‘But a highly competitive wallets landscape means vendors must differentiate and add value by integrating machine learning to provide spending insights and introduce new services such as wealth management.’
The research also identified QR code payments as the most popular digital wallet transaction type in 2026, reaching 380 billion transactions globally, and accounting for over 40% of all transactions by volume.
Links: https://www.paymentscardsandmobile.com/digital-wallet-users-to-exceed-5-2-billion-globally-by-2026/